shutdowns due to Corona virus are hitting the retail industry. Hard forms reports that if things persist, retail industry revenue will be impacted by 50%. That's according to a survey from New Order. That's a Los Angeles based will sell e commerce platform that connects 2000 brands to 500,000 retailers. 43% of those surveyed with retail stores had closed, 31% were open with reduced staff, and 22% said there are no store closures as they are operating as normal. Stores said they project a 25% decrease in annual sales over the next three months. 2136 retailers were surveyed, 83% had brick and mortar stores. Plummeting sales and retail store closures mean layoffs. According to a digit, a survey. 40% of top executives and marketing and retail expect to have layoffs during the crisis. Washington Post reports that Macy's is furloughing most of its 125,000 employees, while Cole's in the Gap said they would furlough tens of thousands of employees

Retailer JCPenney will furlough more workers amid the coronavirus outbreak.The company said Tuesday a majority of its hourly store workers will be furloughed, beginning Thursday.Also, furloughs are coming to other home office and design offices across the country in addition to store salaried associates, JCPenney said. Supply chain and logistics centers had previous furloughs March 20, which will continue, the company said. Workers part of an existing program will continue to have health benefits, and the company plans to cover 100% of premiums.“We remain optimistic about JCPenney’s ability to weather this pandemic," Jill Soltau, chief executive officer of JCPenney, said in a statement. "We also believe these short-term solutions will have a long-term benefit for our associates, customers, and key stakeholders as we look forward to the day that we reopen our doors.”A wave of brands, including Macy's, Nordstrom, Nike, Urban Outfitters, Abercrombie & Fitch, H&M and Victoria's Secret previously announced that they will shut stores temporarily as the coronavirus outbreak began spreading.Many of these chains have been grappling with a series of powerful forces chipping away at their businesses — Amazon and big-box retailers like Walmart, Costco and Target, which are currently seeing a crush of demand; trendy upstart brands online; and discount players such as TJ Maxx.Last year, more than 9,300 stores closed their doors, a 59% jump from the previous year. The retail sector lost upward of 75,000 jobs in 2019.JCPenney said it will continue to follow guidance from local, state, and federal officials as it anticipates gradually reopening stores and offices in markets when it is safe to do so.

Retailer JCPenney will furlough more workers amid the coronavirus outbreak.

The company said Tuesday a majority of its hourly store workers will be furloughed, beginning Thursday.

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Also, furloughs are coming to other home office and design offices across the country in addition to store salaried associates, JCPenney said. Supply chain and logistics centers had previous furloughs March 20, which will continue, the company said.

Workers part of an existing program will continue to have health benefits, and the company plans to cover 100% of premiums.

“We remain optimistic about JCPenney’s ability to weather this pandemic," Jill Soltau, chief executive officer of JCPenney, said in a statement. "We also believe these short-term solutions will have a long-term benefit for our associates, customers, and key stakeholders as we look forward to the day that we reopen our doors.”

A wave of brands, including Macy's, Nordstrom, Nike, Urban Outfitters, Abercrombie & Fitch, H&M and Victoria's Secret previously announced that they will shut stores temporarily as the coronavirus outbreak began spreading.

Many of these chains have been grappling with a series of powerful forces chipping away at their businesses — Amazon and big-box retailers like Walmart, Costco and Target, which are currently seeing a crush of demand; trendy upstart brands online; and discount players such as TJ Maxx.